Apple shares rose on Monday as analysts remain bullish ahead of Tuesday’s new iPhone release.

Apple shares rose on Monday as analysts remained mostly bullish ahead of the tech giant’s new iPhone release on Tuesday and despite a mixed court decision concerning its App Store last week.

The judge ruled that Cupertino, Calif.-based Apple could no longer forbid software developers from informing users about how pay for their content outside their apps.

Apple shares recently traded at $150.48 (U.S.), up one per cent. It closed up 0.39 per cent to $149.55 in New York.

Morgan Stanley’s Katy Huberty has an overweight rating. “Very few of the 30-millionplus app developers can afford to introduce friction to customer acquisition and payments,” she said.

“Nor do they have the brand, credibility and marketing budget to drive consumers direct to their websites or other in-app direct payment platforms.

“At the same time, consumer purchasing habits are difficult to change and few consumers have the ability to manage multiple direct accounts and payment platforms.”

Wedbush’s Dan Ives rates Apple outperform with a $185 target.

“Regulatory pressures look containable for now,” he wrote, noting the judge said that Apple isn’t a monopoly.

He views that as “a big win in the broader regulatory battle vs. the Beltway/Brussels.”

The big deal for Apple is its release of iPhone 13, Ives said. “Apple remains in the midst of its strongest overall product cycle in roughly a decade.”

Citi’s Jim Suva has a buy rating with a $170 target price.

He offered a note of caution: “We do not believe all users will opt for external purchases given the ease of use and security benefits of staying in the Apple ecosystem,” Suva said.

“But this could pressure the stock valuation multiple in addition to the negative impact on (earnings per share).”